The Financial Accounting Standards Board ("FASB") has issued Statement No. 157 which defines fair value, establishes a framework for measuring fair value in generally accepted accounting principals, and expands disclosures about fair value measurements. This statement is effective for financial statements issued for fiscal years beginning after November 15, 2007 and interim periods within those fiscal years.

FAS: Summary of statement No. 157

Deloitte: May 2007 survey of firms readiness for 157

ICI: Tax and Accounting 2007 Presentation slides from Financial Reporting Issues session (not public/conference attendees only)

Confluence: An Administrator's Guide to FASB 157

BoardIQ:  White paper on the Board's oversight of derivatives  

Interactive Data: Pricing vendor information and position paper on FAS 157

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